US SEC approves Nasdaq rule change for tokenized settlement

The U.S. Securities and Exchange Commission (SEC) has approved a Nasdaq rule change that allows for the clearing and settlement of certain securities in a tokenized form under the DTC tokenization pilot program, Wu Blockchain reported. Qualified participants can opt for tokenized settlement by setting an order flag. Tokenized and traditional shares will be traded within the same order book and receive the same execution priority. The program will initially include Russell 1000 stocks and select major index ETFs.